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Success Stories

A Single Strategy and Point of Service Can Maximize Efficiency

The Conflict

A prospective client maintained two separate retirement plans at a large regional bank. However, the plans were not connected in terms of strategy, vision and management. Each plan had separate customer service teams and lead service representatives. The resulting ‘disconnect’ between departments and key staff led to complexity administering the plans and recurring errors in plan administration.

Worse yet, the client had to spend many hours reconciling errors between the bank departments, endure communication hassles and confusion all of which led to additional delays and headaches. The client approached MGO looking for ways to save time and costs while reducing the headaches that resulted from having to manage their retirement program themselves.

The MGO Solution

MGO proposed using its Total Solution Retirement plan service so that a single administrative team, providing strong communication, would increase efficiency between plans. The client would only have one number to call for all of their issues and questions, saving time and headaches. With this approach, MGO is able to resolve participant issues, reduce administrative complexities and make sure that both plans work together to achieve client goals. Additionally, the client has direct access to MGO management.

The Results

Switching to MGO’s Total Solution resulted in the client saving time and money by not having to deal with multiple parties and communication lapses. The client is now free to focus on business, knowing that one company, MGO, is accountable for all aspects of their retirement program.

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The opinions and description of any investment strategies referenced on this site should not be considered as an offer to sell or a solicitation to purchase specific securities. Past performance is not a guarantee or a reliable indicator of future results. Investment return and the principal value of an investment will fluctuate.